Kids, get yourself a MBA if you don't want to end up shoveling horse manure in Belmont Park between furloughs.
MBA is no job safety these days, there are plenty finding them self unemployed as banks go titsup or restructure due to financial turmoil. Not to mention that many MBA jobs are being converted to automated computer tasks... Rest finding them self being replaced by "business process outsourcing" in India.
Studying law appears to be the safest ticket to gravy train these days.
There seems to be some confusion around what "Chapter 11 bankruptcy" for AMR means. It is not quite the same as what non-Americans associate with "bankruptcy". Chapter 11 is reorganizing while being protected from creditors. Chapter 7 is analogous to bankruptcy is the rest of world - eg split the assets between creditors and the last employer switches lights off permanently.